Anglo American (AAUKF) was Upgraded to a Buy Rating at J.P. Morgan

In a report released yesterday, Dominic OKane from J.P. Morgan upgraded Anglo American (AAUKFResearch Report) to Buy, with a price target of £38.50. The company’s shares closed last Friday at $35.62.

According to TipRanks.com, OKane is a 4-star analyst with an average return of 9.8% and a 63.5% success rate. OKane covers the Basic Materials sector, focusing on stocks such as Sibanye Stillwater, Anglogold Ashanti, and Gold Fields.

Currently, the analyst consensus on Anglo American is a Moderate Buy with an average price target of $45.23, a 25.4% upside from current levels. In a report issued on July 29, RBC Capital also upgraded the stock to Buy with a £34.00 price target.

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Based on Anglo American’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $0. In comparison, last year the company had a net profit of $0.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AAUKF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Anglo American Plc is a mining company, which engages in the exploration and mining of precious base metals and ferrous metals. The company operates through the following segments: Iron Ore, Manganese, and Corporate and Other. Its portfolio of mining businesses includes span bulk commodities, including iron ore and manganese, metallurgical coal and thermal coal, base metals and minerals, copper, nickel, niobium and phosphates, and precious metals and minerals. The company was founded by Ernest Oppenheimer in 1917 and is headquartered in London, the United Kingdom.

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